COMMISSIONER OF INCOME TAX Vs. R N RAI

JUDGEMENT

(1.) IN all these nine appeals against the common order passed by the INcome-tax Appellate Tribunal (for short "the ITAT"), whereby the order dated October 22, 1998, passed by the Commissioner of INcome-tax (Appeals), Jabalpur, was affirmed. The Commissioner of INcome-tax has reversed the order passed by the Assistant Commissioner of Wealth-tax.

(2.) THE Assistant Commissioner of Wealth-tax assessed the residential house at Napier Town, Jabalpur, of the assessee sold in the year 1986 at Rs. 18,00,000, of which the value was estimated on March 31, 1984, at Rs. 14,00,000. Net taxable wealth was found at Rs. 15,74,657.

(3.) THESE nine appeals have been preferred against the common order dated September 16, 1999, passed by the Income-tax Appellate Tribunal affirming the orders of Commissioner of Wealth-tax (Appeals).